Sitt submits second offer for Empire State Building

|About: Empire State Realty Trust... (ESRT)|By:, SA News Editor

New York property magnate Joseph Sitt has submitted a second round of bids to acquire the Empire State Building (ESB), although there's no word on the price.

Sitt's Thor Equities has offered to buy Empire State Building Associates, which owns the land and has the master lease on the tower, and to purchase the Helmsley Trust's 63.8% interest in Empire State Building.

In June, Sitt offered over $2.1B for the companies, adding to two other bids of about the same amount.

Meanwhile, Malkin Holdings, which manages the skyscraper and its investors, is in the process of taking the Empire State Building public as part of a REIT.